Tesla’s share price has slumped after the company recalled about 123,000 Model S sedans, telling customers the affected cars need to have their power-steering bolts replaced, as they may have corroded from road salt from operating during the winter. The recall caps a difficult few months at Tesla, which has been battered by safety and production woes, with some analysts now openly questioning its chances of survival. Tesla shares have plunged more than 25 percent over the past month, and sank a further 4 percent in after-hours trading Thursday after news broke about the Model S recall. This week, the National Transportation Safety Board announced it was investigating a Northern California car crash after which a Tesla’s battery melted down and proved exceedingly difficult for fire crews to extinguish.
ADVERTISEMENT
